- Places 12 countries on 'monitoring list' for currency and macro policies
- List includes: China, Japan, South Korea, Germany, Italy, India, Malaysia, Singapore, Taiwan and Mexico
- Says Switzerland exceeded US manipulator thresholds in 2021 but US refrains from branding it a currency manipulator
- Senior US official says having good discussions with Swiss authorities and they face some unique challenges, including occasional safe haven flows
- Treasury continues to have significant concerns about China's economic practices and lack of transparency regarding FX mechanisms and intervention
This report sometimes gets a lot of attention but it's never been used to punish a country. In my eyes, the report is a joke.